Showing posts with label $eurusd. Show all posts
Showing posts with label $eurusd. Show all posts

Saturday, July 23, 2016

A Fibonacci observation on $EURUSD

(Wave Red A) The May high 1.1612 to the June low 1.0913 = .0699
(Wave Red B) June Low 1.0913 to End of B wave triangle 1.1164 
(Wave Red C expected) End Wave B June high 1.1164 - .0699 = 1.0465 2015 March Low 
1:1 Price Symmetry

Monday, November 23, 2015

Alternate Elliott Wave Counts on the EURUSD

The most popular count on the EURUSD also subscribed to by major EW services is as below.


The Problem here is the red C wave that begun in May 2014 should have been 5 waves. This was all in order till the move from March 15, 2015 (1.04584) to March 27, 2015 (1.10558) which was supposed to be a 4th wave landed up extending its self into October 2015 and now is not symmetrically relevant to the whole pattern as a 4th wave. Breaking of the 1.04584 will anyway invalidate that count.
I therefore present an alternate count. An ABC with C as an ending diagonal of which 3 waves are definitely complete.

 The 4th wave is most likely complete. The 5th wave A seems complete with a B and C pending and targets somewhere between. 1.04 and .9800.